Gateway Distriparks Ltd., India’s leading port-based logistics provider, reported a consolidated net income of $4.9 million for its first fiscal quarter, which ended June 30, a decline of 14.7 percent year-over-year.
Quarterly revenue increased 6 percent from the same period in 2012 to $40.4 million.
The Mumbai-based company’s operating profit for the quarter was $6.4 million, dropping 22 percent from $8.2 million a year ago. Quarterly profit from the core container freight station business plunged 33 percent year-over-year to $3.9 million.
“In the longer term, GDL will continue its strategy of expanding its container freight station operations, and with the overall improvement of the business climate, this segment is likely to do well,” the company said.
The company posted a net profit of $23.44 million in fiscal year 2012-13, which ended March 31, 2013, down 4 percent from 2011-12.
GDL operates container freight stations at the ports of Nhava Sheva (Jawaharlal Nehru), Chennai, Visakhapatnam and Cochin. The company’s business offerings include rail freight transportation, warehousing, trucking and cold-chain management.